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ISA/IHT

Comments

  • eskbanker
    eskbanker Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic

    Is that some sort of sensationalised piece of clickbait trying to make something out of the simple fact that ISAs shield holders from income tax and CGT but that they form part of the estate on death and are therefore included in IHT calculations?

  • masonic
    masonic Posts: 29,573 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 18 April at 8:03PM

    ISAs only protect the individual who owns them from income and capital gains tax. It would not protect the estate from inheritance tax (where it isn't passed to a spouse or civil partner).

  • jimjames
    jimjames Posts: 19,258 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper

    Not sure what the point of the link is. ISAs protect you from the taxes that could otherwise be due on your savings or investments - income tax or CGT. They don't have any relevance for unconnected taxes like IHT or car tax or council tax.

    Remember the saying: if it looks too good to be true it almost certainly is.
  • Albermarle
    Albermarle Posts: 31,184 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    https://forums.moneysavingexpert.com/discussion/comment/81969166#Comment_81969166

    The point is to get you to click on it. Nothing else.

  • castle96
    castle96 Posts: 3,052 Forumite
    Part of the Furniture 1,000 Posts Name Dropper

    No malicious intent here. Wasjust me querying. My bad

  • Brie
    Brie Posts: 16,765 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    https://forums.moneysavingexpert.com/discussion/comment/81969434#Comment_81969434

    You're right to ask questions if you aren't sure. Better than making incorrect assumptions!!

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